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Online Enrollment and Change Deadlines

Enrollment in or changes to the Basic Retirement Plan and 403(b) SRA can take effect during the same month or the following month, depending on the timing of your elections. Enrollment in or changes to the 457(b) Deferred Compensation Plan take effect the following month. All enrollments and changes to your elections are completed in Wolverine Access.

Please note that if you have taken an SRA hardship withdrawal you are not eligible to make an elective deferral to the Basic Retirement Plan, 403(b) Supplemental Retirement Account (SRA) or the 457(b) Deferred Compensation Plan for a minimum of six consecutive months.

You have until 7:00 p.m. EST on the day you create the event to successfully finalize and submit your election. If you do not finalize and submit the election by 7:00 p.m., the event will expire and you cannot create another election until the next pay period.

Enrollment or Change Deadline Tables

Deadlines differ depending on if you are paid biweekly or monthly. Refer to the appropriate deadline table to target a specific paycheck or see when your elections will take effect.
If you want to enroll or change your existing 457(b) and 403(b) SRA contribution in the same paycheck, see the deadline tables under Synchronizing 403(b) SRA and 457(b) Elections for the Same Paycheck.

A 457(b) election or change takes effect in the second paycheck of the month following the election. For example, if you make a 457(b) election or change on July 2, your second paycheck in August would reflect the change.

You may want to enroll or change your existing 457(b) and 403(b) SRA contribution in the same paycheck. For example, you may want to increase one while decreasing the other, with both changes taking effect in the same paycheck so your net pay does not change. Because there are different effective dates for each plan, you will need to carefully coordinate your elections to take effect with the same paycheck.

You will need to create two Initiate Ret Savings Elections events in Wolverine Access on two separate days. The first event is for the 457(b) and the second is for the 403(b) SRA. Since you can only create, finalize, and submit one event per day, this process will require two separate days to complete. You will need to finalize and submit your elections by 7:00 p.m. ET on the day you create each event. Do not wait until the last few days of the month to make your two elections to get your 457(b) and 403(b) SRA effective with the same paycheck. In case you make an error, corrections cannot be made after the deadlines, and you will not be able to make any further events until the next available election period.

Limitations on Effective Dates

Not all biweekly paychecks may have both the 457(b) and SRA take effect at the same time due to payroll processing schedules and differences in effective dates of the plans. Therefore, only those paychecks able to support a synchronized election for both plan types are listed in the table.

You will need to carefully refer to the date range chart in the links below when creating the two events and entering your elections in order to have both the 457(b) and 403(b) SRA synchronized to the same available paycheck.

Example

If you create the 403(b) SRA event and the 457(b) event early in the month, the 403(b) SRA may take effect that same month while the 457(b) won’t take effect until the following month.

Since you have already created one event for the 403(b) SRA, you cannot create another to move the 403(b) SRA effective date to the following month to coincide with the 457(b).

Your 403(b) SRA and 457(b) elections will be effective in two different paychecks.

Deadlines for Synchronized Elections for Employees Paid Biweekly

Paycheck Date

457(b) Date Range

SRA Date Range

Deadlines for Synchronized Elections for Employees Paid Biweekly

12/07/2018

11/01/2018 - 11/30/2018

11/18/2018 - 12/01/2018

01/18/2019

12/01/2018 - 12/31/2018

12/30/2018 - 01/12/2019

02/15/2019

01/01/2019 - 01/31/2019

01/27/2019 - 02/09/2019

03/15/2019

02/01/2019 - 02/28/2019

02/24/2019 - 03/09/2019

04/12/2019

03/01/2019 - 03/31/2019

03/24/2019 - 04/06/2019

05/10/2019

04/01/2019 - 04/30/2019

04/21/2019 - 05/04/2019

06/07/2019

05/01/2019 - 05/31/2019

05/19/2019 - 06/01/2019

07/19/2019

06/01/2019 - 06/30/2019

06/30/2019 - 07/13/2019

08/16/2019

07/01/2019 - 07/31/2019

07/28/2019 - 08/10/2019

09/13/2019

08/01/2019 - 08/31/2019

08/25/2019 - 09/07/2019

10/11/2019

09/01/2019 - 09/30/2019

09/22/2019 - 10/05/2019

11/08/2019

10/01/2019 - 10/31/2019

10/20/2019 - 11/02/2019

12/20/2019

11/01/2019 - 11/30/2019

12/01/2019 - 12/14/2019

01/17/2020

12/01/2019 - 12/31/2019

12/29/2019 - 01/11/2020

Deadlines for Synchronized Elections for Employees Paid Monthly

Paycheck Date

457(b) Date Range

SRA Date Range

Deadlines for Synchronized Elections for Employees Paid Monthly

11/30/2018

10/01/2018 - 10/31/2018

10/23/2018 - 11/19/2018

12/21/2018

11/01/2018 - 11/30/2018

11/20/2018 - 12/09/2018

01/31/2019

12/01/2018 - 12/31/2018

12/10/2018 - 01/20/2019

02/28/2019

01/01/2019 - 01/31/2019

01/21/2019 - 02/17/2019

03/29/2019

02/01/2019 - 02/28/2019

02/18/2019 - 03/17/2019

04/30/2019

03/01/2019 - 03/31/2019

03/18/2019 - 04/22/2019

05/31/2019

04/01/2019 - 04/30/2019

04/23/2019 - 05/22/2019

06/28/2019

05/01/2019 - 05/31/2019

05/23/2019 - 06/19/2019

07/31/2019

06/01/2019 - 06/30/2019

06/20/2019 - 07/21/2019

08/30/2019

07/01/2019 - 07/31/2019

07/22/2019 - 08/18/2019

09/30/2019

08/01/2019 - 08/31/2019

08/19/2019 - 09/15/2019

10/31/2019

09/01/2019 - 09/30/2019

09/16/2019 - 10/23/2019

11/27/2019

10/01/2019 - 10/31/2019

10/24/2019 - 11/18/2019

12/20/2019

11/01/2019 - 11/30/2019

11/19/2019 - 12/08/2019

01/31/2020

12/01/2019 - 12/31/2019

12/09/2019 - 12/31/2019

Questions About Your Benefits?

Limitations

The University of Michigan in its sole discretion may modify, amend, or terminate the benefits provided with respect to any individual receiving benefits, including active employees, retirees, and their dependents. Although the university has elected to provide these benefits this year, no individual has a vested right to any of the benefits provided. Nothing in these materials gives any individual the right to continued benefits beyond the time the university modifies, amends, or terminates the benefit. Anyone seeking or accepting any of the benefits provided will be deemed to have accepted the terms of the benefits programs and the university's right to modify, amend, or terminate them. Every effort has been made to ensure the accuracy of the benefits information in this site. However, if any provision on the benefits plans is unclear or ambiguous, the Benefits Office reserves the right to interpret the plan and resolve the problem. If any inconsistency exists between this site and the written plans or contracts, the actual provisions of each benefit plan will govern.